Millennials are choosing to move to the city, and companies are shifting to follow them there, but it remains to be seen how long millennials will choose to remain in the city. Marketplace staffer Mark Garrison takes a look at why millennials prefer the city and one of their biggest issues, affordability.
Garrison points out that the millennial decision to move to the city may not be a permanent generational shift from the more traditional suburbs:
They’re just not getting there quite as soon, possibly because they’re marrying and having kids later than previous generations. It’s also possible that what we are seeing now is more a sign of lingering impact from the Great Recession — which made it harder for millennials to afford and finance new homes, forcing them to rent — rather than a major generational shift.